Bloomberg: the EU has accelerated the introduction of a price ceiling for oil from Russia
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The EU countries intend within a few weeks to agree on the introduction of a cap on the cost of Russian oil, writes Bloomberg.
The discussion of this measure accelerated after the announcement of partial mobilization in the country by Russian President Vladimir Putin, the agency notes, and the measure itself is likely to be included in a new package of sanctions to be proposed by the European Commission (EC).
The success of this initiative is not guaranteed, writes Bloomberg: each EU country has its own oil needs, and sanctions decisions require unanimity. Representatives of EU member states will meet with the European Commission over the weekend to discuss new sanctions, which, in addition to the oil price ceiling, could also include restrictions on new Russian faces, exports of technology and luxury goods.
Earlier, the head of European diplomacy, Josep Borrell, citing a statement by the EU foreign ministers, said that the EU countries would impose new sanctions on Russia, its leadership and the organizers of referendums in the Donetsk and Luhansk People’s Republics (DPR and LPR), Kherson and Zaporozhye regions “as soon as possible “. The day before, EC President Ursula von der Leyen suggested to establish additional control over the export of EU civilian technologies to Russia.
On September 2, the finance ministers of the G7 countries (USA, UK, Canada, Japan, Italy, France and Germany) announced their intention to introduce a ceiling on prices for Russian oil. The US Treasury Department stated that the introduction of such a measure would guarantee the supply of Russian oil regardless of new sanctions, as well as avoid sharp jumps in gas prices. Later it became known that the G7 will set a limit on oil prices by December 5th. The introduction of a price ceiling for Russian gas has not yet been agreed upon by the EU countries.
Russian President Vladimir Putin at the plenary session of the Eastern Economic Forum (WEF) called the idea of limiting prices “nonsense” and “absolutely stupid decision”, which will lead to a further increase in energy prices in Europe and the countries that make this decision. He said that Russia would not supply energy resources to those countries that “impose” their conditions.
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